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CBN probes 71 companies for suspected forex deals

By: Admin The Central Bank of Nigeria (CBN) has launched a massive investigation into foreign exchange transactions by 71 companies after preliminary reviews raised suspicions of possible infractions and contravention of extant foreign exchange laws and rules. Sources close to ...

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NNPC extends fuel-crude oil swap contract by six months

Nigerian National Petroleum Corporation, NNPC has extended its contracts with private companies to swap crude oil for fuels for extra six months. The initial one-year contracts to exchange more than 300,000 barrels per day (bpd) with 15 company pairings were ...

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Our Molecular Lab will help fight COVID-19, sustain agriculture-Indorama

By: Editor Indorama-Nigeria, owner  of Indorama Eleme petrochemicals and Indorama fertilizer in Rivers State  says that its Molecular laboratory accredited by the Nigeria Centre for Disease Control (NCDC) will help to fight the novel Coronavirus (COVID-19) pandemic in Rivers State ...

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Nigeria’s Bonga terminal shut for repairs

Nigeria’s Bonga crude oil export terminal has been shut for routine maintenance. Its operator Shell told Reuters on Tuesday, adding it aimed to have the work done in “record time”. The Shell Nigeria Exploration and Production Company (SNEPCo) said in ...

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Senate queries CBN, Accountant-General over ₦596 billion ecological fund

The Central Bank of Nigeria (CBN) and the Accountant General of the Federation on Thursday when they appeared before the Senate Committee on Public Accounts could not explain how ₦596 billion ecological fund was spent from 1999 to 2015. While ...

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FG spent N1.3tr to import rice, wheat, others in 12 months-CBN

Atleast N1.3 trillion was spent by the Federal Government on the importation of rice, fish, sugar and wheat in the last 12 months, the Central Bank of Nigeria (CBN) said on Tuesday. The bank’s Deputy Governor, Corporate Services, Edward Lametek, ...

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Nigeria moves 15 spots in World Bank’s ease of doing business ranking

Nigeria has moved 15 spots in the World Bank’s ease of doing business from 146 in 2018 to 131 in 2019. This was revealed in the Bank’s ease of doing business index released on yesterday. The Bank said before coming ...

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2020 Budget: Only 4 States are viable in Nigeria —BudgIT

A new report released Wednesday, by a budget tracking Civil Society Organisation, BudgIT, has shown that only four states in Nigeria are viable. The report titled ‘State of States’ said Lagos State tops the table followed by Rivers, Akwa Ibom ...

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OML 25: Peace returns to Kula as SPDC, Belema oil resolve dispute

… Resume operations in 10 days The Nigerian National Petroleum Corporation with its joint venture partners, Shell Production Development Company and Belema OIL, have resolved the dispute on the operation of Oil Mining Lease (OML) 25. The feuding group at ...

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Cyber Fraud: Igbos dominate as FBI releases full list of Nigerians

By: Admin The United States Federal Bureau of Investigation (FBI), on Thursday, released a disturbing list of suspected  online fraudsters who are mostly Nigerians. The list released by the FBI includes majorly Igbo names with one Yoruba and Efik name. ...

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